PROPERTY VALUATION

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PROPERTY VALUATION

Investment in property is one such decision, which is done in order to get appreciation in future. To get an idea how much the value has appreciated, property valuation is done. It is the process, which determines the market value of a property on a given date, based upon factors such as property size, demands and supply, location, infrastructure, connectivity etc. Valuing property accurately is very important to sellers, home purchasers, lenders, and real estate investors for better financial decisions. Valuation experts do property valuation.Property valuation typically seeks to determine fair market value, the price at which a knowledgeable seller would sell the property and a knowledgeable buyer would willingly purchase it and are neither forced to buy or sell.

Purpose of Valuation Factors affecting property value

DUST is what the property valuation lies upon.First is Demand, the magnitude of interest and buying power in the market for purchasing property.Next is Utility, the ability of the real estate to satisfy the use or need of prospective purchasers.Scarcity, the third, recognizes that there is a limited supply of real estate.The last is Transferability, which refers to the ease at which the property can be transferred to a new owner, legally. Apart from these, some other factors, which affect the value, are,

Methods of Valuation

Knowing the main property valuation methods is vital to for real estate appraisal. While landlords and investors do not necessarily have to know the ins and outs of the property valuation methods, it’s always a good idea to have a basic idea. The following methods are used for property valuation,

These days, valuation is done by registered valuers, who are trained and experienced in the area of property valuation and offer better assessment of the fair market value of the property. Although he uses a combination of the above methods, due to his experience and know-how, he can provide a reasonable estimation of the market value of a particular property.

The information on the top real estate valuers in India can be found in the list below, which could help in locating nearby local real estate valuers.